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MEMPHIS, Tenn. -- They are animals that take hold of our hearts and become family.
"They are absolutely my babies," said Carola Cornejo Bello.
Yet, only 1% of our pets have health insurance.
"As soon as we got Floyd. Microchip, name tag, insurance. These are the things we need to have," she said.
She is in the minority.
Cornejo Bello already had insurance for her English Sheepdog Goose.
It covered several problems including a tooth procedure.
"It was $2,700 and I got $2,300 back."
And soon after they brought Floyd home, he was diagnosed with degenerative joint disease.
Luckily her policy covered breed-related illness.
"It's more maintenance treatment and to make sure he's not in pain," said Cornejo Bello.
Erin Behrenhausen is like most Americans.
Her 12-year-old dog Baxter doesn't have insurance, but she did have it when he was a puppy.
"It kind of seemed like something that wasn't necessary, so I just stopped it."
A few years later, she learned Baxter had hip dysplasia, a skeletal disease that causes malformed hips.
"We actually have to carry him up the stairs," she told us.
She looked into renewing her policy, but the high cost put her off.
"When I was a kid, it was like, the dog is out in the back. We took him to the vet once or twice his whole life."
Michael Hemstreet heads up the website Pet Insurance Review which compares pet insurance plans from the 14 American companies that offer it.
"Pet insurance is very complicated. You can't just go out there and buy the cheapest policy."
Customers who just want an accident only policy, you can find coverage on the website for under $3 a month.
You can also opt for a policy that covers both accidents and illnesses.
There are even some that cover routine care, but you must have an accident and illness policy too.
"A lot of people don't pay attention. They just buy the pet insurance. They assume it all works the same and it doesn't," said Hemstreet.
He recommended buying pet insurance like you would for you car or life- get the highest deductible so your monthly payments are smaller.
With that approach you're covered for catastrophic, really expensive and unexpected events.
And despite dozens of available plans, not a single one covers pre-existing conditions.
"The insurance companies would go bankrupt, if everyone waited until they got sick," said Hemstreet.
That's why Behrenhausen will take on Baxter's care all on her own.
And while Cornejo Bello kisses away nearly $140 a month for insurance on both dogs, she said it's worth the peace of mind.
"The way I see it my doggies, they're one of our family. I see it as a necessity. He'll have whatever I have."
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